www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Companies

Govt bailout plan for LDK Solar sparks debate

(Xinhua) Updated: 2012-07-21 16:25

Govt bailout plan for LDK Solar sparks debate

Workers assemble solar cells in one of LDK Solar's plants in Xinyu, Jiangxi province. [File Photo/Xinhua] 

NANCHANG -- A bailout plan created by the government of the city of Xinyu for LDK Solar, one of the world's largest solar wafer manufacturers, has sparked controversy in China regarding its credibility.

The Xinyu Municipal People's Congress, the city's legislative body, passed a resolution on July 12 that included the repayment of 500 million yuan ($79 million) in loans extended to LDK Solar by the Huarong International Trust and Investment Corp in the city government's annual fiscal budget.

The use of public funds to repay the debts of a private company, a rarity in China, has aroused heated debate.

"The fiscal budget is for public service, not for the development of a company," Shi Zhengwen, director of the taxation and financing research center of the China University of Political Science and Law, was quoted as saying by China Business News.

"LDK Solar is just a leading company in a competitive industry, and it has no bearing on major public interests and economic security," Shi said. "The government cannot repay a company's debt just because it pays more taxes and employs more people," he said.

LDK Solar, established in 2005, was the first company in East China's Jiangxi province to be listed on the New York Stock Exchange. It employs more than 20,000 people and paid 1.3 billion yuan ($203.97 million) in taxes in 2011, almost 12 percent of the city's total fiscal revenues.

LDK Solar is ranked 266th on Forbes' list of the top 500 Chinese companies for 2012. The provincial government has stated its desire to turn the photovoltaic industry into pillar industry, with LDK Solar expected to have annual sales of 100 billion yuan in 2015.

The drastic expansion has made LDK Solar a shining star in China's new energy industry. But shrinking demand for solar products and dropping prices for panels that convert sunlight into electricity have forced several companies in China, Europe and the US to shut down their operations.

LDK Solar had sales revenues of 13.93 billion yuan and suffered a net loss of 5.49 billion yuan in 2011, according to its yearly report. Its total debt amounted to 30.23 billion yuan by the end of 2011.

The company saw it sales drop by $185 million in the first quarter and posted a gross margin of negative 65.5 percent due to serious price erosion.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 欧美日本一道高清二区三区 | 免费一看一级欧美 | 99视频国产热精品视频 | 欧美精品另类 | 国产成人在线视频播放 | 国产成人精品福利网站在线观看 | 久久er精品热线免费 | 国产亚洲精品一区999 | 就草草在线观看视频 | 欧美激情精品久久久久久久九九九 | 久久99国产亚洲高清观看韩国 | 欧美不卡一区二区三区 | 综合在线视频精品专区 | 久久不见久久见免费影院 | 国产成人精品久久综合 | 国产精品久久久久免费a∨ 国产精品久久久久免费视频 | 日韩美香港a一级毛片 | 狠狠色丁香九九婷婷综合五月 | 波多野结衣免费观看视频 | 色综合久久一本首久久 | 亚洲依依成人综合在线网址 | 日本精品视频一视频高清 | 可以免费看黄的网站 | 色综合加勒比 | 日本成本人片 | 日本一区二区三区在线 视频 | 亚洲黄区 | 国产亚洲精品aaa大片 | 夜间福利网站 | 成年免费观看 | 色九九视频 | 免费女人18毛片a级毛片视频 | 一区二区三区在线观看免费 | 久一在线 | 欧美日韩中文国产一区二区三区 | 一级黄片毛片 | 亚洲伦乱 | 欧美综合视频在线观看 | cao美女 | 91国高清视频 | 国产成人一区二区三区视频免费 |